Bank of New York Mellon Corp Trims Holdings in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Bank of New York Mellon Corp cut its position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,214 shares of the company’s stock after selling 428 shares during the quarter. Bank of New York Mellon Corp’s holdings in LENZ Therapeutics were worth $843,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in LENZ Therapeutics during the fourth quarter worth approximately $29,000. SG Americas Securities LLC lifted its stake in shares of LENZ Therapeutics by 20.7% during the 4th quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock worth $158,000 after purchasing an additional 935 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of LENZ Therapeutics during the fourth quarter worth $168,000. MetLife Investment Management LLC purchased a new stake in shares of LENZ Therapeutics in the third quarter valued at $182,000. Finally, Jane Street Group LLC acquired a new position in LENZ Therapeutics in the third quarter valued at $286,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Trading Down 0.9 %

LENZ stock opened at $26.43 on Wednesday. The company has a market cap of $726.85 million, a PE ratio of -5.54 and a beta of 0.58. The stock has a 50-day moving average price of $24.30 and a two-hundred day moving average price of $27.12. LENZ Therapeutics, Inc. has a 12-month low of $14.42 and a 12-month high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). Equities analysts forecast that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on LENZ. TD Cowen initiated coverage on LENZ Therapeutics in a research note on Tuesday, March 18th. They issued a “buy” rating and a $60.00 price target on the stock. Citigroup increased their price objective on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, LENZ Therapeutics has a consensus rating of “Buy” and an average price target of $41.67.

LENZ Therapeutics Company Profile

LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California.